Vancouver, British Columbia / March 12, 2018 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8) is pleased to announce that, further to its news release of March 5, 2018 and, due to high demand, it has closed a second tranche of its over-subscribed private placement (the “Private Placement”) raising additional gross proceeds of $87,600 by the issuance of an additional 1,095,000 units (the “Units”) at a price of $0.08 per Unit.
Each Unit consists of one common share and one transferable common share purchase warrant of the Company, with each warrant exercisable for a period of 4 years from the date of closing at a price of CAD$0.10 per share.
The Company paid finder’s fees in the amount of 8% cash and 8% warrants to Mackie Research Capital Corp., Haywood Securities Inc. and Raymond James Ltd. Each finder’s warrant is non-transferable and exercisable for a period of 4 years from the date of closing at a price of CAD$0.10 per share. All securities issued in connection with the Private Placement are subject to a 4‑month hold period in Canada.
The gross proceeds of the Private Placement will be used as follows:
|Description:||Use of Proceeds|
|Research on the Company’s site-selective technology for the development of antibody-drug conjugates in its industrial partnerships:||$53,436|
|General working capital:||$34,164|
The Company confirms that there is no material fact or material change about the Company that has not already been generally disclosed.
“Due to strong demand for our initial tranche of the current placement we decided to open up a second one for investors,” said Randal Chase, CEO of Advanced Proteome Therapeutics. “With the proceeds for both tranches of this placement we can continue to develop partnerships and expanding our reach to globally while hitting on key milestones that will propel shareholder value. Lastly, we would like to thank all investors for there ongoing support of our program.”
ABOUT THE COMPANY:
Advanced Proteome Therapeutics Corporation is developing a proprietary technology to directly target cancerous tumors and avoid destroying normal cells. This type of agent is capable of greater potency, higher specificity and lower toxicity than other therapies that can also attack healthy cells. The Company is working to streamline the process by which these agents are prepared, which to date, has been extremely cumbersome, limiting their potential.
FOR FURTHER INFORMATION PLEASE CONTACT:
Advanced Proteome Therapeutics Corporation
Dr. Randal D. Chase
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.